Connecticut was one of 10 states in the country hit hardest by the foreclosure crisis, according to a fresh report from property analytics firm CoreLogic.
The Nutmeg State was among the top 10 states with the highest foreclosure rates at its peak in 2012 as well as at the end of 2016, according to CoreLogic
The foreclosure crisis began in some parts of the country 10 years ago, as early as 2007 and later peaked nationwide in Sept. 2010 in most states, with approximately 120,000 completed foreclosures occurring during that single month.
Connecticut’s foreclosure rate peaked at 4.6 percent, and remains today at 1.4 percent, data from the property analytics firm shows. That makes the state sixth highest in the country overall.
Florida ranked first with a 12.5 percent foreclosure rate at its peak and 1.5 percent rate at the end of last year. Arizona rounded out the top 10 with a 4.4 percent foreclosure rate at its peak and three-tenths of a percent last year.
Meantime, Connecticut’s foreclosure inventory peaked in 2012 when there were 22,000 homes in foreclosure.
Nationally, foreclosures peaked in 2010 with approximately 1.2 million foreclosures for the year – closely followed by just over 1 million completed foreclosures in 2009, CoreLogic said.
The retrospective report examines the path of the residential foreclosure crisis beginning with the relatively healthy years early in the 2000s, through the peak of the crisis, to today. The country has started to normalize, recording approximately 22,000 completed foreclosures a month.
